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19 Malaysian Stocks Launch IPOs in 2024 YTD, Top Gainer Skyrockets Over 70% on First Day!
The Malaysian IPO market has been particularly vibrant since the beginning of 2024, with 19 companies having gone public by June 10th, two of which have seen their share prices soar by more than 50% on their debut on ACE Market.
Newly Listed Feytech Buys RM20 Mil Industrial Land From DRB-Hicom's Proton City
Feytech Holdings Bhd, an automotive seat manufacturer listed just last Tuesday (May 21), proposed to acquire a plot of land measuring 9.76 acres for RM19.98 million from DRB-Hicom Bhd (KL:DRBHCOM)'s unit Proton City Development Corp Sdn Bhd (PCDC).
Malaysia Closing Bell on 21 May | TM Was the Top Gainer of FBM KLCI
TM was the top gainer, rising 3.67 percent to close at RM 6.490. The top loser was KLK, losing 3.74 percent to end at RM 21.600.
Feytech Expects Proposed Subsidy Rationalisation to Impact Automotive Market
The proposed fuel subsidy rationalisation by the government could impact the local automotive market, which houses its major customers, primarily consisting of automotive vehicle original equipment manufacturers (OEMs), according to automotive seat manufacturer Feytech Holdings Bhd (KL:FEYTECH).
Feytech Makes Strong Main Market Debut With 30 Sen Premium
Automotive seat manufacturer Feytech Holdings Bhd (KL:FEYTECH) made a strong debut on Bursa Malaysia's Main Market at RM1.10, a premium of 30 sen or 37.5% over its initial public offering (IPO) price of 80 sen, with an opening volume of 25.85 million.
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